Can I retire at age 62 with 853,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $853,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$70,440$69,813$69,200$68,603$68,019$66,755
2 years$34,871$34,222$33,592$32,982$32,390$31,121
3 years$23,017$22,364$21,737$21,132$20,550$19,316
4 years$17,090$16,440$15,819$15,224$14,656$13,466
5 years$13,536$12,889$12,276$11,694$11,141$9,999
6 years$11,167$10,525$9,921$9,352$8,816$7,723
7 years$9,475$8,839$8,244$7,688$7,170$6,126
8 years$8,207$7,577$6,992$6,450$5,948$4,953
9 years$7,221$6,597$6,022$5,494$5,009$4,063
10 years$6,433$5,815$5,250$4,736$4,268$3,369
11 years$5,789$5,177$4,622$4,121$3,671$2,818
12 years$5,252$4,646$4,102$3,615$3,181$2,374
13 years$4,798$4,199$3,665$3,192$2,774$2,011
14 years$4,410$3,817$3,293$2,833$2,431$1,711
15 years$4,073$3,487$2,973$2,527$2,141$1,462
16 years$3,779$3,199$2,696$2,262$1,892$1,253
17 years$3,520$2,946$2,453$2,033$1,678$1,076
18 years$3,290$2,722$2,239$1,832$1,492$927
19 years$3,084$2,523$2,050$1,655$1,330$800
20 years$2,899$2,344$1,881$1,499$1,188$691
21 years$2,732$2,184$1,730$1,361$1,063$598
22 years$2,580$2,038$1,595$1,237$953$519
23 years$2,442$1,907$1,472$1,127$855$450
24 years$2,315$1,786$1,362$1,028$769$391
25 years$2,199$1,676$1,261$938$692$339
26 years$2,092$1,575$1,170$858$623$295
27 years$1,993$1,483$1,086$785$562$257
28 years$1,901$1,397$1,010$720$507$223
29 years$1,816$1,318$940$660$458$195
30 years$1,736$1,245$875$606$414$170
31 years$1,662$1,177$816$556$374$148
32 years$1,593$1,113$761$511$338$129
33 years$1,528$1,054$711$470$306$112
34 years$1,466$999$664$432$277$98
35 years$1,409$948$621$398$251$85
36 years$1,355$900$581$367$227$75
37 years$1,304$854$544$338$206$65
38 years$1,255$812$509$311$187$57
39 years$1,210$772$477$287$169$50
40 years$1,166$735$447$265$154$43
41 years$1,125$699$419$244$139$38
42 years$1,086$666$393$225$127$33
43 years$1,049$635$369$208$115$29
44 years$1,013$605$346$192$104$25
45 years$980$577$325$177$95$22
46 years$948$550$306$164$86$19
47 years$917$525$287$151$78$17
48 years$888$501$270$140$71$15
49 years$860$479$254$129$64$13
50 years$833$457$238$120$58$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $853,000, adding $6,799 every year, while hoping to spend $42,524 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 79/15/6 Blend
61$853,000$853,000$853,000$853,000
62$947,019$901,810$888,589$1,020,826
63$998,370$900,754$873,111$1,069,105
64$1,053,533$898,220$855,690$1,115,779
65$1,112,853$894,092$836,215$1,165,697
66$1,176,707$888,246$814,571$1,219,161
67$1,245,510$880,549$790,638$1,276,505
68$1,319,717$870,861$764,290$1,338,095
69$1,399,830$859,034$735,395$1,404,336
70$1,486,397$844,911$703,815$1,475,674
71$1,580,023$828,326$669,406$1,552,598
72$1,681,372$809,101$632,018$1,635,652
73$1,791,175$787,049$591,494$1,725,431
74$1,910,234$761,974$547,668$1,822,593
75$2,039,433$733,666$500,370$1,927,864
76$2,179,742$701,902$449,419$2,042,042
77$2,332,229$666,449$394,629$2,166,011
78$2,498,071$627,059$335,803$2,300,741
79$2,678,558$583,469$272,736$2,447,304
80$2,875,114$535,403$205,216$2,606,883
81$3,089,305$482,566$133,020$2,780,779
82$3,322,852$424,650$55,914$2,970,430
83$3,577,652$361,327$0$3,177,420
84$3,855,791$292,250$0$3,405,184
85$4,159,566$217,056$0$3,657,889
86$4,491,507$135,357$0$3,934,094
87$4,854,398$46,746$0$4,236,157
88$5,251,303$0$0$4,566,681
89$5,685,598$0$0$4,936,653
90$6,160,999$0$0$5,350,114
91$6,681,598$0$0$5,802,911
92$7,251,901$0$0$6,298,966
93$7,876,872$0$0$6,842,600
94$8,561,977$0$0$7,438,571
95$9,313,234$0$0$8,092,118
96$10,137,275$0$0$8,809,014
97$11,041,402$0$0$9,595,615
98$12,033,659$0$0$10,458,925
99$13,122,906$0$0$11,406,655
100$14,318,903$0$0$12,447,303